Core Insights - The folding screen smartphone market is transitioning from a niche curiosity to a mainstream practical choice, driven by technological maturity and price reductions [1][5][20] - The user base is expanding, with 17.9% of users aged 18-24, and over 90% of consumers considering a folding screen for their next phone [1][8] Market Trends - In 2024, China's folding screen smartphone shipments are expected to reach 9.69 million units, with 7.62 million units shipped in the first three quarters of 2025 [3] - Huawei leads the market with nearly 70% share and has surpassed 15 million cumulative shipments of folding screen devices [3][7] Technological Advancements - The transition is fueled by advancements in hardware technology, particularly in hinge and screen design, moving from basic functionality to comprehensive user experience [5][20] - Huawei has pioneered key technologies such as the water-drop hinge and the Tian Gong hinge system, which significantly enhance the design and functionality of folding screens [7][13] Consumer Demographics - Young users are increasingly attracted to folding screen smartphones for their technological appeal and entertainment capabilities, with a higher percentage citing these reasons compared to the overall consumer base [8][10] - Among young users, women represent a higher proportion, with 34% being regular employees, followed by general management and students [10] Brand Preference - Huawei is the preferred brand for 67.4% of consumers considering a folding screen smartphone, highlighting its strong market position [10] - The company offers a complete range of folding screen designs, differentiating itself from competitors [13] Software and Ecosystem - Huawei's Mate XTs integrates PC-level applications, enhancing productivity across various scenarios, and supports multi-window interactions [15] - The integration of AI capabilities is expected to redefine user interactions with folding screens, making them more efficient and versatile [17][19] Future Outlook - The combination of AI and folding screens is anticipated to drive a new wave of growth, transforming smartphones into intelligent hubs capable of handling complex tasks [22][23] - As folding screens gain mainstream acceptance, they are expected to become a dominant choice in the consumer market, with Huawei continuing to lead the way in innovation and user experience [20][23]

Core Insights - The folding screen smartphone market is transitioning from a niche curiosity to a mainstream practical choice, driven by technological maturity and decreasing prices [1][5][26] - The user base is expanding, with 17.9% of users aged 18-24, and over 90% of consumers considering a folding screen for their next phone [1][14] - Huawei leads the market with nearly 70% share and has become the first brand to exceed 15 million cumulative shipments of folding screen devices [3][8] Market Trends - In 2024, China's folding screen smartphone shipments are expected to reach 9.69 million units, with 7.62 million units shipped in the first three quarters of 2025 [3] - The market is showing steady recovery, particularly in the high-end segment priced above 10,000 yuan [3] Technological Advancements - The transition from "niche curiosity" to "mainstream practicality" is driven by advancements in hardware technology, software ecosystems, and innovative product forms [5][26] - Huawei has pioneered the development of key technologies such as the water-drop hinge and the Tian Gong hinge system, which have become mainstream in folding screen design [9][26] Consumer Demographics - Folding screen smartphones are increasingly appealing to younger consumers, who view them as symbols of innovation and personal taste [10][14] - Among young users, a higher percentage purchase folding screens for entertainment and innovative experiences compared to the overall consumer base [10][14] User Preferences - 95.5% of consumers express willingness to switch to a folding screen phone, with reliability, battery life, and hardware specifications being key decision factors [14] - Huawei is the preferred brand for 67.4% of consumers considering a folding screen device [14][16] Software and Ecosystem - Huawei's Mate XTs integrates PC-level applications, enhancing productivity in various scenarios and providing a desktop-like experience on mobile devices [18] - The integration of AI capabilities is expected to revolutionize the interaction and productivity of folding screen devices, making them more efficient and user-friendly [19][21] Future Outlook - The combination of AI and folding screens is anticipated to drive a new wave of growth, transforming smartphones into intelligent hubs capable of handling complex tasks [23][28] - As the market matures, folding screen smartphones are expected to shed their niche status and become mainstream consumer choices, with Huawei continuing to define industry standards [26][28]

Core Viewpoint - The article discusses the transformative impact of Huawei's HarmonyOS 6 and its integration of AI capabilities, particularly through Agent to Agent (A2A) collaboration, which redefines mobile application interactions and enhances user experience [7][9][39]. Group 1: AI Integration and User Experience - The Mate X7, powered by HarmonyOS 6, showcases the first commercial implementation of A2A collaboration, allowing applications to work together seamlessly [3][5]. - Users can now interact with their devices using natural language, enabling a more intuitive and efficient way to access services without navigating through multiple apps [10][18]. - The A2A protocol allows previously isolated applications to function as a cohesive "smart service team," enhancing the overall efficiency of task completion [21][24]. Group 2: Technical Framework and Development - HarmonyOS 6 introduces a new technical framework that allows for deep integration of AI with hardware, facilitating standardized interactions between different smart agents [25][26]. - The Intents Kit and unified communication protocols are foundational to the A2A collaboration mechanism, enabling precise interpretation of user commands and efficient service delivery [27][28]. - The HMAF framework simplifies the development process for creating intelligent agents, allowing existing applications to evolve without complete redesign [31][32]. Group 3: Market Implications and Strategic Opportunities - The shift from "user finding applications" to "services finding users" represents a significant evolution in the mobile internet landscape, driven by user demand for efficiency [39][40]. - The growing number of HarmonyOS devices, exceeding 27 million, indicates a rapid adoption of this new interaction paradigm, positioning Huawei to capture a significant market share [42][44]. - Huawei's "Tiangong Plan," with an investment of 1 billion RMB, aims to support the development of AI-native services and frameworks, fostering innovation within the ecosystem [45][46].

Core Insights - The collaboration between ByteDance's AI assistant "Doubao" and ZTE marks a significant entry of a major player into the AI smartphone sector, focusing on redefining the hardware ecosystem through AI capabilities rather than manufacturing devices directly [1][2] - The partnership is seen as a critical variable in the industry's evolution, with the AI smartphone sector index rising following the announcement, indicating positive market sentiment [1] Group 1: Cross-Industry Collaboration - Doubao is a solution that requires deep collaboration with smartphone manufacturers at the operating system level, with ByteDance's strategy centered on "ecological cooperation" rather than self-manufacturing devices [2] - The initial batch of Nubia M153 prototypes, featuring Doubao's AI capabilities, is approximately 30,000 units, with ZTE announcing a strong market response and plans for a second-generation model [2] - ByteDance's hardware team, Ocean, has integrated members from various projects, indicating a long-term strategy of combining large models, super apps, and hardware terminals [2] Group 2: Market Dynamics and Competition - The entry of cross-industry players like ByteDance is expected to disrupt existing smartphone brands and user experience, compelling traditional manufacturers to either develop their own solutions or rely on ecological partners for AI capabilities [3] - Leading smartphone manufacturers have established their own competitive advantages, with Huawei, Honor, OPPO, and Vivo enhancing their AI capabilities and user experiences through innovative technologies [4] - IDC forecasts a strong growth in smartphone sales by the end of the year, benefiting the entire supply chain, including component suppliers and companies like ZTE and Sichuan Furong Technology [5][6]

Economic Indicators - China's November RatingDog Manufacturing PMI will be released on December 1, with the previous value at 50.6, indicating a continued expansion but a slowdown in growth momentum [7][8] - The US will announce the November ISM Manufacturing Index on the same day, with expectations of a slight increase from 48.7 to 49.0, still within the contraction zone [8] - The US Bureau of Economic Analysis has postponed the release of the September PCE report and personal income report to December 5, which are critical for the upcoming Federal Reserve meeting [9][10] Corporate Events - Nvidia will participate in the UBS Global Technology and AI Conference on December 2, discussing its Q4 fiscal year 2026 performance [13] - Ideal Automotive will hold a launch event for its AI glasses, Livis, on December 3, which aims to extend its AI capabilities beyond the vehicle environment [14] - Marvell Technology, referred to as "Nvidia's alternative," will report its earnings on December 3, while C3.ai and Salesforce will release their financial results on December 4 [23] International Relations - French President Macron is scheduled to visit China in early December, which may have implications for international trade and relations [15] - The EU defense ministers will meet in Brussels on December 1 to discuss military support for Ukraine, reflecting ongoing geopolitical tensions [17]

Market Overview - On November 24, the A-share market showed signs of recovery with all three major indices closing in the green. The Shanghai Composite Index rose by 0.05%, the Shenzhen Component Index increased by 0.37%, and the ChiNext Index gained 0.31% [1][2] - The total trading volume in the Shanghai and Shenzhen markets was 1.73 trillion yuan, a decrease of 237.9 billion yuan compared to the previous trading day [1] Sector Performance - The AI application concept stocks experienced a significant surge, with over 4,200 stocks in the market rising. The commercial aerospace sector also saw continued gains [1] - Conversely, lithium mining stocks declined, and computing hardware concepts weakened. The sectors with the highest gains included AI applications and commercial aerospace, while energy metals, Hainan, and gas sectors faced the largest declines [1] International Market - In the U.S. stock market, all three major indices rose on November 24. The Dow Jones Industrial Average increased by 202.86 points (0.44%) to close at 46,448.27 points, the S&P 500 rose by 102.13 points (1.55%) to 6,705.12 points, and the Nasdaq Composite gained 598.92 points (2.69%) to 22,872.01 points [3][4] - In Europe, the market showed mixed results, with the UK FTSE 100 down by 0.05%, the French CAC 40 down by 0.29%, while the German DAX index rose by 0.64% [3][4] - International oil prices increased, with WTI crude oil rising by 1.34% to $58.84 per barrel and Brent crude oil up by 1.29% to $63.37 per barrel [3][4] Key Economic Policies - The People's Bank of China announced a 10 billion yuan MLF operation scheduled for November 25, aimed at maintaining ample liquidity in the banking system [5] Corporate Developments - Huawei is set to launch its Mate80 series and MateX7 products on November 25, with expectations of significant advancements in performance and technology [10] - Alibaba will announce its quarterly earnings on November 25, with a focus on capital expenditure and AI application progress [11] Investment Insights - China Galaxy Securities noted a cautious market sentiment with a "high cut low" characteristic, suggesting a short-term focus on structural adjustments and potential opportunities following recent market corrections [12] - Huatai Securities indicated that the current market adjustment has created a supportive environment, with expectations of improved overseas liquidity and reduced domestic funding pressure [12]

Core Insights - Huawei's Executive Director and Chairman of the Terminal BG, Yu Chengdong, announced the launch event for the Mate 80 series and Mate X7, scheduled for November 25, 2025, at 14:30 [1] Product Details - The Mate 80 series will include four models: Mate 80, Mate 80 Pro, Mate 80 Pro Max, and Mate 80 RS [1]